Indonesian online travel company Tiket.com is exploring going public through a merger with a SPAC as it seeks to expand its business, Bloomberg reports, citing people with knowledge of the matter.
The startup is in talks with COVA Acquisition for a deal that would value the combined entity at about $2 billion, according to the people, who asked not to be identified because the talks are private. Goldman Sachs is advising Jakarta-based Tiket, which is valued at more than $1 billion and owned by diversified Indonesian conglomerate Djarum Group, they said. Read more.
